HomeMy WebLinkAbout20181313.tiffApril23, 2018
OFFICE OF THE PUBLIC TRUSTEE
WELD COUNTY, COLORADO
Barbara Connolly, Controller
Weld County Accounting Dept.
PO Box 758
Greeley, CO 80631
Email: bconnolly@co.weld.co.us
Dear Barb:
Attached are the first quarter 2018 Profit & Loss statement and Summary of Accounts along
with the signed and notarized Acknowledgement. The amount of excess funds for first quarter
2018 is $10,289.06. Pursuant to statute, the Public Trustee must pay to the Weld County
Treasurer any excess funds upon approval by the Commissioners.
This office processed 362 foreclosures in 2017 and 411 were processed in 2016. Comparing
foreclosure totals from 2017 to 2016, shows a decrease of 12%. In addition, this office
processed 20,355 releases of deeds of trust in 2017 and 20,052 in 2016 for an increase of 2%.
As mandated by statute, the Public Trustee must keep a separate reserve fund in an amount
equal to total operating costs of the previous year. The operating expenses for 2017 totaled
$302,730.99. Because the operating expenses for 2017 were less than the 2016 expenses, the
reserve fund will be reduced by $9,548.18 to bring the balance in the reserve fund to
$302,730.99.
Once approval is received from the Commissioners, checks in the amount of $9,548.18 and
$10,289.06 will be mailed to the Weld County Treasurer for deposit into the Public Trustee
Salary Fun e know if you have any questions.
'gg pora..r
O4 -3O -l4
Susie Velasquez, Public Trustee
1701 23' Avenue, Suite 250, Greeley, CO 80634
(970) 352-4365
www.wcpto.corn
eC: l C. 2018-1313
04 -A5-18
Weld County Public Trustee
Profit & Loss
January to March 2018
Profit and Loss January - March 2018
Ordinary Income/Expense
Income
Total Income
Total Cost
Gross Profit
Expense
4000 Foreclosure Revenues
4012 Release Revenues
4022 Miscellaneous Revenues/Fees
4300 Interest Revenues
6300 Cost of Foreclosures
6302 Cost of Releases
6200 Charges for Service
5200 Personnel expenditures
6280 Operating and Maintenance
Total Expense
Net Ordinary Income Fourth Quarter
Other Income/Expense
6875 • Net Income
30,434.77
64,350.00
2,426.64
905.00
98,116.41
11,586.42
98.30
11,684.72
86,431.69
11,775.82
59,504.21
4,862.60
76,142.63
10,289.06
10,289.06
SUMMARY OF ACCOUNTS
WELD COUNTY PUBLIC TRUSTEE
FIRST QUARTER JANUARY THROUGH MARCH 2018
OPERATING ACCOUNT
December 31, 2017 BEGINNING BALANCE $ 31,664.08
Excess cash over expense $ 2,742.16
March 31, 2018 ENDING BALANCE $ 34,406.24
ESCROW ACCOUNT
December 31, 2017 BEGINNING BALANCE $ 617,070.49
Excess cash over expense $ (222,072.74)
March 31, 2018
December 31, 2017
March 31, 2018
ENDING BALANCE $ 394,997.75
SPECIAL RESERVE FUND
BEGINNING BALANCE $ 313,322.92
Excess cash over expense, $ 1,439.66
ENDING BALANCE $ 314,762.58
1st Quarter 2018 Interest Earned on Reserve $ 800.86
2017 Operating Exp. 302,730.99
To Public Trustee Salary Fund $ 9,548.18
WELD COUNTY PUBLIC TRUSTEE
Weld County, Colorado
First Quarter Report of Receipts & Expenditures
January to March 2018
I, Susie Velasquez, upon oath duly sworn, state that the information contained herein is
true and correct to the best of my knowledge and belief.
Respec y submitted,
quez, Pub is ee
STATE OF COLORADO )
COUNTY OF WELD )
trument was acknowledged before me this 23rd day of April 2018 by Susie
County •lic Trustee.
mmission expires: 3 ! /s/RDR..1
JULIE CATHLEEN COLE
NOTARY PUBLIC
STATE of COLORADO
NOTARY ID 20134016881
MY COMMISSION EXPIRES MARCH 15, 2021
Acknowledgement
Hello